Property TaxesThis is the one closing cost that is often prorated between the buyer and seller. If the seller has already paid the annual property taxes, the buyer typically reimburses the seller for the period in which the buyer will be occupying the property. Likewise, if the taxes have not yet been paid, the seller typically reimburses the buyer for the period in which the seller occupied the property.

Transfer Taxes and Recording FeesThis is the cost for transferring ownership of the property and recording the purchase documents. The fee is often calculated as a percentage of the sales price.

Glen and Dorothy Reiner of Exit Minnesota Lakes Realty service the real estate needs of home buyers and home sellers in search of real estate, homes for sale, condos, investment properties, commercial real estate, new construction, new homes, land, lots, waterfront properties, farms and recreational property in these nearby communities and more!